The Malibu luxury home market is booming, led by a significant recent contract on a $12.5 million property, indicating strong buyer interest amid rising prices.
Malibu has experienced a vibrant year for real estate, highlighted by notable transactions such as Laurene Powell Jobs' Malibu property purchased for $94 million.
Part of Malibu's success stems from its exemption from Los Angeles' Measure ULA transfer tax, allowing high-value sales to occur without additional burdens.
Despite the mansion tax in Los Angeles, real estate activity remains strong in Malibu and surrounding areas, reflecting continued demand for high-end properties.
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